Printer Friendly
Dictionary, Encyclopedia and Thesaurus - The Free Dictionary
3,900,154,873 visitors served.
forum Join the Word of the Day Mailing List For webmasters
?
Dictionary/
thesaurus
Medical
dictionary
Legal
dictionary
Financial
dictionary
Acronyms
 
Idioms
Encyclopedia
Wikipedia
encyclopedia
?

Force Majeure
(redirected from Force majeure risk)

    Also found in: Dictionary/thesaurus, Legal, Financial, Wikipedia 0.01 sec.
Force Majeure 

(irresistible force), in civil law, a circumstance that discharges a person from responsibility. The term ”force majeure” refers to an extraordinary event whose harmful consequences could not be averted by the person responsible for averting them. Among such events are natural disasters (earthquakes, floods) and social phenomena, for example, war. Although it can not be averted, force majeure is relative: an event that is irresistible under some conditions may not be irresistible under others.

As a rule, force majeure discharges a person from property responsibility if it was the cause of a violation of the law and the obligated person is not at fault. In some cases, the offender bears property responsibility even in the presence of force majeure (for example, under art. 101 of the Air Code of the USSR). Force majeure is also grounds for suspending the running of a period of limitation of actions.
Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content.
?Page tools
Printer friendly
Cite / link 		Feedback
Mentioned in?  References in periodicals archive?   Encyclopedia browser?   Full browser?
No references found
 
Projects face political and force majeure risks throughout.
The name of the game is risk by Moors de Giorgio, Emmanuelle / African Business
Among them are: * interest rate risk, which is the risk that interest rates may vary over the life of the project; * exchange rate risk, which occurs if debt is payable in currencies other than the one in which revenues are generated; and * force majeure risk, which is the risk that the project will fail to generate revenues required to repay loans due to earthquakes, war, flood, fire, or "acts of God.
Infrastructure financing in Hong Kong: project finance leads the way by Tigue, Patricia / Government Finance Review
The project's contracts closely match expenses against revenues and require Ecopetrol to assume a large portion of the uncontrollable risks, such as currency-exchange-rate risk and force majeure risks.
S&P Affirms Centragas 'BB' FC Rtg; Off Watch by Business Wire
 
 
 
Encyclopedia
?

Terms of Use | Privacy policy | Feedback | Advertise with Us | Copyright © 2012 Farlex, Inc.
Disclaimer
All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional.